KeyCorp Reaffirms “Overweight” Rating for Dollar Tree (NASDAQ:DLTR)

KeyCorp reissued their overweight rating on shares of Dollar Tree (NASDAQ:DLTR) in a research note released on Wednesday, November 22nd, Marketbeat.com reports. KeyCorp currently has a $115.00 price target on the stock, up from their prior price target of $98.00. KeyCorp also issued estimates for Dollar Tree’s FY2018 earnings at $4.82 EPS and FY2019 earnings at $5.22 EPS.

DLTR has been the subject of several other research reports. BMO Capital Markets reiterated a hold rating and issued a $90.00 target price on shares of Dollar Tree in a research note on Thursday, November 2nd. Royal Bank Of Canada set a $92.00 target price on shares of Dollar Tree and gave the stock a buy rating in a research note on Monday, October 30th. Zacks Investment Research cut shares of Dollar Tree from a buy rating to a hold rating in a research note on Tuesday, October 31st. Raymond James Financial raised shares of Dollar Tree from a market perform rating to a strong-buy rating and set a $95.00 price objective for the company in a research note on Friday, August 25th. Finally, Jefferies Group reaffirmed a hold rating and set a $85.00 price objective (up previously from $80.00) on shares of Dollar Tree in a research note on Friday, August 25th. Eleven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $99.92.

Dollar Tree (NASDAQ DLTR) traded up $1.79 on Wednesday, hitting $107.31. 2,668,013 shares of the company were exchanged, compared to its average volume of 2,748,206. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.95 and a quick ratio of 0.28. Dollar Tree has a one year low of $65.63 and a one year high of $108.07. The company has a market capitalization of $25,106.15, a price-to-earnings ratio of 24.23, a P/E/G ratio of 1.66 and a beta of 0.64.

Dollar Tree (NASDAQ:DLTR) last posted its quarterly earnings data on Tuesday, November 21st. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.11. The business had revenue of $5.32 billion during the quarter, compared to the consensus estimate of $5.28 billion. Dollar Tree had a net margin of 4.63% and a return on equity of 18.04%. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. analysts predict that Dollar Tree will post 4.85 earnings per share for the current year.

In other Dollar Tree news, insider Gary M. Philbin sold 2,795 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $84.50, for a total transaction of $236,177.50. Following the completion of the sale, the insider now directly owns 34,532 shares of the company’s stock, valued at approximately $2,917,954. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Michael A. Witynski sold 4,644 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $102.04, for a total transaction of $473,873.76. Following the completion of the transaction, the chief operating officer now directly owns 12,381 shares of the company’s stock, valued at $1,263,357.24. The disclosure for this sale can be found here. Insiders sold a total of 382,141 shares of company stock valued at $36,142,631 over the last three months. 4.10% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential Financial Inc. lifted its position in shares of Dollar Tree by 8.4% during the second quarter. Prudential Financial Inc. now owns 358,085 shares of the company’s stock worth $25,037,000 after purchasing an additional 27,672 shares during the last quarter. Rockshelter Capital Management LLC bought a new stake in shares of Dollar Tree during the second quarter worth $5,850,000. Shell Asset Management Co. lifted its position in shares of Dollar Tree by 368.4% during the third quarter. Shell Asset Management Co. now owns 72,354 shares of the company’s stock worth $4,057,000 after purchasing an additional 56,906 shares during the last quarter. South Dakota Investment Council bought a new stake in shares of Dollar Tree during the second quarter worth $804,000. Finally, Korea Investment CORP lifted its position in shares of Dollar Tree by 170.4% during the third quarter. Korea Investment CORP now owns 56,489 shares of the company’s stock worth $4,904,000 after purchasing an additional 35,600 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

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About Dollar Tree

Dollar Tree, Inc is an operator of discount variety stores. As of January 28, 2017, the Company operated 14,334 stores in 48 states and the District of Columbia, and five Canadian provinces. Its segments include Dollar Tree and Family Dollar. The Dollar Tree segment is the operator of discount variety stores offering merchandise at a fixed price.

Analyst Recommendations for Dollar Tree (NASDAQ:DLTR)

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